AUDUSD awaiting AUD news on tues n wed
My bias is for short. There is a confluence of
- d1 line chart; day tf suggests a distribution pattern in place. ( red lines)
-d1 fib5
- h4 channel top
- h1 channel top with macd divergence
What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to commit till the eleventh hour, and only act when fakeout is hinted and act upon it, likely just before news.
- d1 line chart; day tf suggests a distribution pattern in place. ( red lines)
-d1 fib5
- h4 channel top
- h1 channel top with macd divergence
What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to commit till the eleventh hour, and only act when fakeout is hinted and act upon it, likely just before news.